Stricter rules for adjustable-rate mortgages

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marketwatch_logo-1 While many lenders already use the fully-indexed rate to approve borrowers, it’s not a standard used throughout the industry. Some lenders are approving borrowers with a rate that may be slightly higher than the starter rate but less than the fully-indexed rate, says Mark Goldman, senior loan officer with C2 Financial Corp, a San Diego-based mortgage brokerage firm.

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